Khiron is First Company Authorized to Extract High THC Medical Cannabis in Colombia
- Further to cultivation quotas announced on February 26, 2020, this authorization by the Colombian Technical Quotas Authority ("TQG") allows the Company to now produce oils for sale both domestically and abroad.
- Of the 9.3 tonnes approved, 50% are for Colombian domestic use and 50% are allowed for export purposes.
- Export quotas allow for the manufacture of whole plant extract for international purposes to countries such as Peru, Uruguay and Brazil, thereby accessing to a medical cannabis market of $1.4 Billion. (Source: New Frontier Data)
- Domestic quotas represent a further milestone in the Company's stated timeline to bring the first medical cannabis products to market in Colombia, targeting patients with two priority conditions; chronic pain and nausea associated with chemotherapy.
TORONTO, March 1, 2020 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America, today announced that further to cultivation quotas announced on February 26, 2020, it has received manufacturing quotas from the Colombian Technical Quotas Group ("TQG"). These quotas authorize the Company to manufacture high-THC whole plant extract for both export and domestic purposes.
"Receipt of these quotas, together with the previously disclosed cultivation quotas, moves us measurably closer to our priority of serving patient needs in Colombia, and further jurisdictions in Latin America. With our fast growing ILANS clinics and recently launched Zerenia clinic, we have a large and engaged patient network for chronic pain and nausea related conditions to immediately serve through medical cannabis." Comments Juan Diego Alvarez, Khiron Vice-President of Regulatory Affairs.
Based on high-THC medical cannabis demand, the Company will be able to produce approximately an equivalent of 1,000,000 bottles of high-THC formulation for medical use domestically and abroad. The Company expects to receive final GEP laboratory certification in the near future.
About Khiron Life Sciences Corp.
Khiron Life Sciences Corp. is positioned to be the dominant integrated cannabis company in Latin America. Khiron has core operations in Latin America and is fully licensed in Colombia for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis. The company delivers best in class regulatory compliance, has the first approved set of CBD cosmetic products on shelf in Colombia, and is currently facilitating testing to meet and surpass all license requirements for commercial cannabis derived products.
With a focused regional strategy and patient oriented approach, the Company combines global scientific expertise, agricultural advantages, branded product market entrance experience and education to drive prescription and brand loyalty to address priority medical conditions such as chronic pain, epilepsy, depression and anxiety in the Latin American market of over 620 million people. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced executive team, and a knowledgeable Board of Directors that includes former President of Mexico, Vicente Fox.
Visit Khiron online at www.khiron.ca and on Instagram @khironlife
Cautionary Notes
Forward-Looking Statements
This press release may contain certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron's control, including the risk factors discussed in Khiron's Annual Information Form which is available on Khiron's SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and are made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
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This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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SOURCE Khiron Life Sciences Corp.
Investor Contacts: Chris Naprawa, President, T: +1 (416) 705-1144, E: [email protected]; Media Contact: Jon Packer, Vice President, Communications, T: +1 (416) 543-9179, E: [email protected]
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